The key to any successful business is good planning, and that includes planning for unfortunate eventualities that might occur and taking remedial or protective action before they become an issue, or worse, a disaster. For caravan park owners there are many things that need to be considered on a daily basis, and there are some which really shouldn’t be ignored. Here we take a look at five things that all caravan park owners should consider, and how the right caravan park insurance can protect you.
- How will your business stay afloat in the event of a fire or other disaster?
Caravan parks or more dependent on the equipment and property they own than many businesses. Your ability to make money and thus stay in business is dependent on you being able to offer a pleasant environment to stay in, and to actually have the physical accommodation for people to spend their holiday in.
If something happens to one or more of your caravans then you may potentially lose money not just on the cost of replacing the caravan itself, but also on the loss of income between its loss and the arrival of its replacement. Having caravan park insurance that covers you for such losses of income can be invaluable when the worst happens.
- How will the business fare if you’re unable to run it for a time?
If your caravan park is a small independent operation that depends on you for its day to day running, what will happen if you’re taken ill or suffer an accident? The right kind of insurance can provide for this eventuality and cover you for any income losses until you’re ready to take the reins again.
- What will happen if one of your guests has an accident or suffers loss on your site?
We live in an increasingly litigious culture, in which members of the public are more likely to sue for compensation over a variety of accidents or perceived loss than in previous decades. In some cases they may have a valid case, in which your actions or lack of action have caused them to sustain injury, while others may be trivial cases but nonetheless result in you having to pay out a hefty compensation settlement. Either way, public liability insurance will mean that it’s your insurer that pays out for the claim, not you.
- Who will be liable if one of your employees has an accident at work?
If one of your employees suffers injury or loss as a result of an accident at work and it is proved that is through the fault of your company, you will again be liable to pay out compensation. This could potentially run to many thousands or tens of thousands of pounds. Employer’s liability insurance will cover this angle, and is of course a legal requirement for any business that has employees.
- Will your caravans be protected enroute if you’re purchasing them from abroad?
If you have reason to order a consignment of caravans from a supplier overseas, whether to start a new caravan park or to upgrade and replace your aging models, there will be a period of time in which they are vulnerable to more risks than usual. During the shipping and delivery process there may be an increased risk of theft, damage or even the loss of the cargo through an accident at sea. A single-voyage marine transit insurance policy purchased separately from your normal caravan park insurance policy can protect you against these risks.
Protecting your caravan park through a robust insurance policy should be a priority for all owners. If you want to find out more about any of the types of insurance mentioned here, get in touch with Park Insurance.
Marc Loud is a partner at Park Insurance, for over 30 years of experience who cover a range of specialist sectors including caravan insurance.